David Grutman Biography & Net Worth

David Grutman Biography & Net Worth

Most of David Grutman net worth has been acquired through his successful career and involvement in several business ventures. He is an American businessman and entrepreneur best known for owning and partnering with several nightclubs and restaurants in the Miami, Florida area. Due to his numerous endeavors, Rolling Stone magazine added Grutman to it’s list of the 50 most important people in electronic dance music. He bagged a degree in finance from the University of Florida, and debuted actively in the business in 2008 when he launched the LIV nightclub at Fontainebleau Miami Beach hotel. This establishment has gone on to become the third-highest grossing nightclub in the United States. After opening the club Story in 2013, Grutman has opened several more restaurants and clubs, including Swan, the Café OTL, the restaurant Komodo, and Bar Bevy with American singer Pharrell as a partner. To add to his list of businesses, the Florida-born entrepreneur established a high end steakhouse in South Beach, Florida known as Papi Steak in 2019. Grutman’s nightclubs Story and LIV are among the Top 10 nightclubs in the United States by revenue. The two renowned brands have served as catalysts for the growth and development of Grutman’s newly created lifestyle collective, Groot Hospitality. David Grutman net worth has been estimated at $50 million.

David Grutman’s Early Life

Grutman was born on 3 July 1974 in Naples, Florida, United States. He was raised as a Jewish child by his Jewish family in Naples where he was born, and attended the University of Florida. When he was age 21, he relocated to Miami, Florida, in search of work, and found one in South Beach as a bartender. Next up, he found another opportunity to work as a marketer at the firm Tantra and the Opium Group.

David Grutman’s Career

After working as a bartender in South Beach, Miami, he worked as a marketer for some time and was able to raise some amount of money to startup the business of his interest.

David Grutman is an operating partner and Chief Executive Officer (CEO) of Miami Marketing Group (MMG), which he co-founded in 2008 when he was 34 years old. MMG was renamed MMG Nightlife after David was asked to run the club in Jeff Soffer’s billion-dollar renovation of the Fontainebleau Hotel in Miami.

Nightclub promoter David Grutman is the owner of a hotel nightclub named LIV. He also owns several establishments including the LIV Sun Life Stadium and the Story nightclub. in South Beach. He is also the owner of a night club in Dominican Republic – the Oro Nightclub at the HardRock Hotel in Punta Cana.

It is said that the millionaire businessman discovered Electronic dance music (EDM) in the Spanish island of Ibiza and started playing at his club LIV, and it helped raise the club’s revenue from $25 million to $40 million, and established it as one of the groundlaying mainstream EDM venues in the USA. By 2013, the LIV nightclub was already ranking as the 5th most profitable nightclub in the entire United States, generating somewhere between $45 and $60 million that year alone.

In 2014, David Grutman was named on Rolling Stone magazine’s list of “50 Most Important People in EDM”, ranking him at position 11.

He is the father of two children with his wife Isabela Rangel.

David Grutman Net Worth

A greater percentage of David Grutman net worth has been acquired through his successful career and involvement in several business ventures. He is famous as a businessman, entrepreneur, and nightclub promoter. His wealth primarily comes through his business of owning and partnering with several nightclubs and restaurants in the United States. His several restaurants and clubs, include the LIV nightclub, Swan, the Café OTL, the restaurant Komodo, and Bar Bevy. He also owns a high end steakhouse in South Beach, Florida known as Papi Steak. His LIV nightclub has gone on to become the third-highest grossing nightclub in the United States, ranking as the 5th most profitable nightclub in the State and generating nearly $60 million in the year 2013.

According to Forbes, Grutman’s nightclubs Story and LIV are among the Top 10 nightclubs in the United States by revenue. The two renowned brands have served as catalysts for the growth and development of Grutman’s newly created lifestyle collective, Groot Hospitality. But David Grutman, 45, does not seem to settle for growing his businesses in South Florida alone. His plans include building his company to become a popular hospitality leader in the world that is successful in hotels, nightclubs, and restaurants. And he is in search of spaces in cities such as Las Vegas, Dallas, and Dubai for his next bigger-than-life destinations.

Widely regarded as a “Hospitality Entrepreneur”, David Grutman net worth is a staggering $50 million.